On April 9th, Joan will give a presentation on “Developing and Implementing a Budget Neutral Medication Assisted Treatment (MAT) Option In a Community Hospital & the Importance of Community Based Organization Collaboration” at Becker’s Hospital Review 11th Annual Meeting. As part of an ongoing series, Becker’s is talking to healthcare leaders who plan to speak at the conference, which will take place on April 6-9, 2020 in Chicago.
To learn more about the conference and Joan’s session, click here.
Question: What, from your perspective, is the biggest challenge about the future of work for hospitals, and what can they do about it? (i.e. automation, desire for more flexibility, clinician shortages, etc.)
Joan Cusack-McGuirk: Profitability, specifically the speed and scale of Volume to Value remains a priority. Many hospitals, especially Vital Access, Safety Net & DSH hospitals, had to reduce avoidable presentations/hospitalizations under Value-Based Contracts, however, the reimbursement isn’t filling the gap created by reduced volume. These types of hospitals must look carefully at every program and ensure that the focus is on building a profitable book of business.
Q: How can hospitals reconcile the need to maintain inpatient volumes with the mission to keep people healthier and out of the hospital?
JCM: The key is striking the balance between what needs to be provided within the four walls of the hospital and what belongs in alternate settings. There must be recognition that there are illnesses/procedures that are now managed only within a hospital that will need to move to an alternate setting at a lower cost. Anticipating that program development around disease prevention and chronic disease management is fundamental to future sustainment. Hospitals have core services that are standard and expected from the patients we serve. In order to provide core services, inner-city, standalone community hospitals with government payer mixes exceeding 75%, cannot survive alone, you must become part of something bigger. Montefiore St. Luke’s Cornwall has achieved many successes since joining the Montefiore Health System. It allowed core services to remain local, and the ability to refer within the larger system when that’s not feasible all while controlling cost. This will not only add confidence to the local constituency around how they can have access to tertiary/quaternary care when needed, but it also instills our commitment to improving the overall quality of care. As a patient trusted provider, not only do we know how to manage their health & wellness, being part of something bigger means that we can provide the resources.
Q: What’s one lesson you learned early in your career that has helped you lead in healthcare?
JCM: Be an agent for change. In addition patients, families, and physicians should be equally respected in value and decision making. Failure to not recognize this triad can be the difference between success and failure.
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
